Over K1.2bn transacted through FNB CashPlus platform
ABOUT K1.2 billion have so far been transacted by the First National Bank (FNB) in Africa through the CashPlus platform since its launch, providing a convenient way of conducting transactions.
In Zambia, FNB has over 1, 500 CashPlus agents with over 273, 000 monthly transactions, accounting for the largest contribution across the continent. The FNB CashPlus service has seen stellar growth since it was first launched, culminating in transactions on the platform reaching a total value of ZAR1 billion (about K1.2 billion) for the month of December 2021.
This is according to Gary Hulbert, Operations Head for FNB Rest of Africa, who said the accessibility and immediacy of FNB CashPlus had put the solution in an advantageous position during the Covid-19 lockdowns.
“Customers were drawn to the convenience and cost-efficiency of the banking services it offers, as well as the relative safety of not having to go into busy towns or cities and expose themselves to the risk of infection queuing at a branch to get their banking done,” Mr Hulbert said.
On Zambia, Mr Hulbert said the bank considered this to be a significant achievement, given that FNB CashPlus only officially launched in the country in mid-2018.
“Not to mention that the growth over the past two years has been against the very challenging backdrop of Covid-19 and ongoing lockdowns in all the countries were FNB CashPlus is available.
“First launched in Zambia, the agency banking model, CashPlus has continued to provide customer convenience and address financial inclusion,” Mr Hulbert said.
He stated that FNB was successfully changing the reality for growing numbers of people in most of the African countries in which it operated in.
He explained that the highly positive response to the innovative FNB CashPlus remote banking offered showed just what an impact accessible banking could have on the people who needed it.
“Access to basic banking services is an essential cornerstone of sustainable economic growth for any developing country. Unfortunately, a lack of access to such banking services is still a reality for many people and families in rural communities across Africa,” Mr Hulbert said.